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Reynolds and Reynolds talks $1.82 billion seven-year term loan with Libor plus 350-375 bps coupon
By Paul A. Harris
St. Louis, April 6 - Reynolds and Reynolds Co. set price talk for its $1.82 billion seven-year term loan at Libor plus 350 basis points to Libor plus 375 bps, with a 175 bps Libor floor, an informed source told Prospect News on Tuesday.
The $1.895 billion credit facility also features a $75 million revolver.
Deutsche Bank, Bank of America and Credit Suisse are the lead banks on the deal, with Deutsche the left lead.
Proceeds will be used to refinance existing debt.
Reynolds and Reynolds is a Dayton, Ohio-based dealer services company.
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